Wall Street wants a lot more than loans from mortgage lenders. "Volume for the sake of volume" isn't what it's about, said Daniel L. Perl, chief executive of Life Financial Corp., a Riverside, Calif., lender that regularly sells loans through investment banks.

With securitizations of $100 million or more very common, investment bankers want assurances they won't be burned by the mortgages they purchase. Wall Street "wants to rely on the integrity of the people who originate the products," Mr. Perl said. "Everyone wants the investors to get the returns they expected."

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